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Browsing: Uganda’s import duty on Agricultural products
The government of Uganda has increased import duty on agricultural products to 60 per cent and other products to 35 per cent in a bid to raise revenue.
The total import bill in Uganda is $7 billion per year.
During the presentation of Uganda’s budget for the financial year 2020/21 the finance minister Matia Kasaija said: “In order to promote import substitution and the development of local industries, we have increased import duties on goods that are produced or can be produced locally.”
Mr kasaija said that the import duty on agricultural products has been increased to 60 per cent and other products to 35 per cent.
The finance minister also said that modest tax rates adjustments that have been made include removing ambiguity in the legislation, the excise duty rate on fuel, support compliance and emoving any loopholes that may lead to revenue loss.
He said that VAT will …